• Safle, a non-custodial multichain identity wallet, raises $4 million ahead of IDO

  • After closing a $4 million private funding round today, non-custodial wallet developer Safle is well on its way to putting digital identities back in the hands of users.

    Today’s round included MapleBlock, GSR, Sanctum, and Ghaf Capital Partners, as well as a slew of individual backers, including Frontier Wallet founder and CEO Ravindra Kumar, Purefi co-founder and BPO Sasha Antropov, Jun Capital partner Alex Man, Innov8 founder Ritesh Malik, and MahaDAO founder Steven Enamakel, and the Lithuanian professional poker player, politician, and businessman Tony G.

    Safle is gaining traction due to its decentralized identity model, which aims to give crypto users complete control over both their digital identities and their data.

    In terms of non-custodial wallets, the crypto community currently has very few options. Even those that do exist fall short in other areas, the most obvious being that they are limited to a specific blockchain network, making it difficult to transfer assets to other chains. Another source of concern is security, with concerns about exposed dApps.

    Safle is built on a web3 infrastructure that allows for the development of dApps and integration with multiple chains. It makes use of native features such as SafleID, SafleVault, Saflekeyless, and SafleNode to create a system where users can create their own digital identity and have a seamless, frictionless experience managing their crypto assets and building decentralized finance applications. Users will be able to manage crypto, access dApps, store NFTs, and make payments all in one place using the Safle wallet.

    The Safle ecosystem revolves around its native $SAFLE token, which serves as both a utility and a governance coin, allowing holders to vote on which features they want to see developed. In addition, users can stake $SAFLE tokens on smart contracts to validate transactions and earn rewards as an incentive.

    Sanctum Ventures’ Dunstan Teo stated that his firm is vested and actively adding projects that facilitate innovation, sustainability, and easier access to the NFT and GameFi ecosystems.

    “Safle’s vision and technological solutions have the potential to be game changers in this segment,” he added.

    Simplified access is provided by Safle’s clean, user-friendly UI, which offers functions via simple, logical tabs. It enables users to trade from anywhere, at any time, while maintaining full custody and control over their funds.

    The funding announced today comes ahead of the $SAFLE token’s Initial DEX Offering on Polkadot, which is set to take place next week.

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